Jonathan Wong
The Latest
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BlackRock’s Assets Hit Record $11.6 Trillion as Client Cash Inflows Surge
BlackRock Inc., the world's largest asset manager, reached a record $11.6 trillion in assets under management in the fourth quarter of 2024, fueled by a surge in client cash inflows and expanding investments in private markets. The firm reported a 21% increase in quarterly profits, highlighting its ability to navigate volatile markets and attract substantial investor capital. 
BlackRock Inc., the world's largest asset manager, reached a record $11.6 trillion in assets under management in the fourth quarter of 2024, fueled by a surge in client cash inflows and expanding investments in private markets. The firm reported a 21% increase in quarterly profits, highlighting its ability to navigate volatile markets and attract substantial investor capital. -
SEC Sues Elon Musk Over Alleged Failure to Disclose Twitter Stake, Accuses Billionaire of Securities Fraud
The Securities and Exchange Commission (SEC) filed a lawsuit Tuesday against Elon Musk, alleging the billionaire violated securities law by failing to disclose his significant stake in Twitter in a timely manner. The lawsuit, filed in U.S. District Court in Washington, D.C., claims Musk's delay in disclosure allowed him to purchase Twitter shares at "artificially low prices," depriving shareholders of over $150 million. 
The Securities and Exchange Commission (SEC) filed a lawsuit Tuesday against Elon Musk, alleging the billionaire violated securities law by failing to disclose his significant stake in Twitter in a timely manner. The lawsuit, filed in U.S. District Court in Washington, D.C., claims Musk's delay in disclosure allowed him to purchase Twitter shares at "artificially low prices," depriving shareholders of over $150 million. -
Starbucks Ends Open-Door Policy, Requires Purchases for Cafe Access
Starbucks has announced a significant shift in its customer policy, reversing a five-year-old rule that allowed non-paying visitors to use its restrooms and linger in its cafes. The policy, introduced in 2018 following a high-profile discrimination controversy, will now require customers to make a purchase to access facilities or remain on the premises. 
Starbucks has announced a significant shift in its customer policy, reversing a five-year-old rule that allowed non-paying visitors to use its restrooms and linger in its cafes. The policy, introduced in 2018 following a high-profile discrimination controversy, will now require customers to make a purchase to access facilities or remain on the premises. -
UK Watchdog Investigates Google’s Search Dominance Under New Antitrust Laws
The United Kingdom's Competition and Markets Authority (CMA) has launched a landmark investigation into Google's dominance in search and digital advertising, marking the first major case under the country's new competition rules. The inquiry aims to assess whether the tech giant's practices harm consumers, publishers, advertisers, and emerging competitors in an increasingly AI-driven search market. 
The United Kingdom's Competition and Markets Authority (CMA) has launched a landmark investigation into Google's dominance in search and digital advertising, marking the first major case under the country's new competition rules. The inquiry aims to assess whether the tech giant's practices harm consumers, publishers, advertisers, and emerging competitors in an increasingly AI-driven search market. -
OpenAI Proposes AI Blueprint for U.S. to Stay Ahead of China Amid Leadership Change
OpenAI has unveiled a sweeping set of proposals aimed at ensuring the United States retains its leadership in artificial intelligence, a move designed to counter China's rising influence in the sector. The recommendations, detailed in a document titled the "Economic Blueprint," emphasize the need for federal investment, regulatory frameworks, and international collaboration to solidify America's standing in AI development and deployment. 
OpenAI has unveiled a sweeping set of proposals aimed at ensuring the United States retains its leadership in artificial intelligence, a move designed to counter China's rising influence in the sector. The recommendations, detailed in a document titled the "Economic Blueprint," emphasize the need for federal investment, regulatory frameworks, and international collaboration to solidify America's standing in AI development and deployment. -
Lululemon Raises Fourth-Quarter Guidance, Stock Jumps
Lululemon Athletica Inc. raised its fourth-quarter revenue and earnings projections, citing strong consumer demand during the holiday shopping season. The athletic apparel retailer, known for its premium activewear, now expects net revenue to range between $3.56 billion and $3.58 billion, up from its earlier forecast of $3.48 billion to $3.51 billion. The revised guidance reflects an 11% to 12% increase compared with the fourth quarter of fiscal 2023, or a 6% to 7% rise when excluding the 53rd week of fiscal 2024. 
Lululemon Athletica Inc. raised its fourth-quarter revenue and earnings projections, citing strong consumer demand during the holiday shopping season. The athletic apparel retailer, known for its premium activewear, now expects net revenue to range between $3.56 billion and $3.58 billion, up from its earlier forecast of $3.48 billion to $3.51 billion. The revised guidance reflects an 11% to 12% increase compared with the fourth quarter of fiscal 2023, or a 6% to 7% rise when excluding the 53rd week of fiscal 2024. -
Supreme Court Signals Support for TikTok Ban Over National Security Concerns
The Supreme Court on Friday appeared poised to uphold a controversial law that could ban TikTok in the United States unless its Chinese parent company, ByteDance, divests ownership. During over two hours of oral arguments, the justices examined the law through the lens of national security and free speech, signaling a likely ruling in favor of the government's case. 
The Supreme Court on Friday appeared poised to uphold a controversial law that could ban TikTok in the United States unless its Chinese parent company, ByteDance, divests ownership. During over two hours of oral arguments, the justices examined the law through the lens of national security and free speech, signaling a likely ruling in favor of the government's case. -
Tesla’s Overhauled Model Y Targets China’s Competitive EV Market
Tesla on Friday announced a revamped version of its popular Model Y in China, unveiling an array of design and technology tweaks meant to fortify its position against a growing lineup of domestic rivals. The new model, set to begin deliveries in March, carries a starting price of 263,500 Chinese yuan (approximately $35,935). That cost reflects a 5.4% increase from the previous Model Y, a signal that Tesla appears confident consumers will pay a premium for enhancements in driving range and performance. 
Tesla on Friday announced a revamped version of its popular Model Y in China, unveiling an array of design and technology tweaks meant to fortify its position against a growing lineup of domestic rivals. The new model, set to begin deliveries in March, carries a starting price of 263,500 Chinese yuan (approximately $35,935). That cost reflects a 5.4% increase from the previous Model Y, a signal that Tesla appears confident consumers will pay a premium for enhancements in driving range and performance. -
TikTok Case Set for Supreme Court Hearing, Sparking Debate Over Free Speech and National Security
The Supreme Court will hear arguments on Friday in a landmark case that could determine whether TikTok, the immensely popular video-sharing platform, remains operational in the United States. The case, TikTok v. Merrick Garland, challenges a federal law requiring ByteDance, TikTok's China-based parent company, to divest its U.S. operations by January 19 or face a nationwide ban. 
The Supreme Court will hear arguments on Friday in a landmark case that could determine whether TikTok, the immensely popular video-sharing platform, remains operational in the United States. The case, TikTok v. Merrick Garland, challenges a federal law requiring ByteDance, TikTok's China-based parent company, to divest its U.S. operations by January 19 or face a nationwide ban. -
Quantum Computing Stocks Tumble Following Nvidia CEO's Cautious Forecast
Quantum computing stocks experienced a sharp downturn Wednesday after Nvidia CEO Jensen Huang tempered expectations for the technology's timeline, stating that practical quantum computing could be as far as 15 to 30 years away. Huang's remarks, made during a Q&A with Wall Street analysts, prompted a swift market reaction, with shares in key companies in the sector plunging in premarket trading. 
Quantum computing stocks experienced a sharp downturn Wednesday after Nvidia CEO Jensen Huang tempered expectations for the technology's timeline, stating that practical quantum computing could be as far as 15 to 30 years away. Huang's remarks, made during a Q&A with Wall Street analysts, prompted a swift market reaction, with shares in key companies in the sector plunging in premarket trading.
